Binance Launches Support for New ZK Rollup Protocol

Hong Kong, China – Binance, the world’s leading cryptocurrency exchange by trading volume, announced on Monday that it will support a new universal zero-knowledge (ZK) rollup protocol called Boundless (ZKC).

Boundless is part of Binance’s HODLer Airdrops program, which rewards token holders based on historic balance snapshots. The new project aims to scale ZK-powered verifiable compute for all blockchain networks, according to its whitepaper.

The whitepaper explains that in Boundless, operators of GPUs and other hardware, known as “provers,” will compete to fulfill on or off-chain requests for zero-knowledge proofs made by users referred to as requestors. Payments will be processed along with the verification of proofs on the targeted blockchain.

ZK rollups operate as one of two main methods for executing transactions outside of a blockchain. They run computations off-chain and submit validity reports, while Optimistic rollups assume transactions are valid without verification.

In addition to the protocol launch, Binance is attaching a seed tag to the new token, a designation applicable to projects with lower liquidity that may show higher volatility. Users wishing to trade assets with these tags must pass quizzes every 90 days to acknowledge the associated risks.

ZKC trading on Binance is set to commence on Monday, further expanding the exchange’s offerings in the cryptocurrency market.